Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC) by 6.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,843,418 shares of the financial services provider’s stock after acquiring an additional 343,132 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.32% of Manulife Financial worth $107,163,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the business. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Manulife Financial by 1.6% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 34,146 shares of the financial services provider’s stock worth $609,000 after acquiring an additional 529 shares during the last quarter. Todd Asset Management LLC lifted its holdings in shares of Manulife Financial by 1.2% in the 4th quarter. Todd Asset Management LLC now owns 48,686 shares of the financial services provider’s stock worth $869,000 after acquiring an additional 585 shares during the last quarter. Brinker Capital Investments LLC lifted its holdings in shares of Manulife Financial by 5.3% in the 1st quarter. Brinker Capital Investments LLC now owns 12,449 shares of the financial services provider’s stock worth $266,000 after acquiring an additional 624 shares during the last quarter. Comerica Bank lifted its holdings in shares of Manulife Financial by 1.1% in the 4th quarter. Comerica Bank now owns 61,304 shares of the financial services provider’s stock worth $1,166,000 after acquiring an additional 690 shares during the last quarter. Finally, Townsquare Capital LLC lifted its holdings in shares of Manulife Financial by 5.3% in the 4th quarter. Townsquare Capital LLC now owns 14,836 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 744 shares during the last quarter. 40.71% of the stock is currently owned by institutional investors.
Manulife Financial Stock Down 0.7 %
NYSE:MFC opened at $18.86 on Friday. The company has a fifty day moving average of $18.96 and a 200 day moving average of $19.00. Manulife Financial Co. has a 52 week low of $14.92 and a 52 week high of $20.40. The firm has a market capitalization of $34.69 billion, a P/E ratio of 8.65, a P/E/G ratio of 0.78 and a beta of 1.10.
Manulife Financial Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 19th. Shareholders of record on Wednesday, May 24th were issued a $0.269 dividend. The ex-dividend date of this dividend was Tuesday, May 23rd. This represents a $1.08 annualized dividend and a yield of 5.71%. Manulife Financial’s dividend payout ratio (DPR) is presently 49.54%.
Wall Street Analyst Weigh In
Separately, StockNews.com initiated coverage on shares of Manulife Financial in a report on Thursday, May 18th. They set a “hold” rating for the company.
Manulife Financial Profile
Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in Asia, Canada, the United States, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.
Featured Articles
- Five stocks we like better than Manulife Financial
- MarketBeat Week in Review – 7/10 – 7/14
- Wells Fargo’s Earnings, Why Markets Are Loving The Stock
- Citigroup Leads Banking Earnings, What’s Next?
- BlackRock Kicks Off Financials Earnings Season, Gauge To Markets
- JPMorgan Chase Is In Reversal But Don’t Chase It Higher
Want to see what other hedge funds are holding MFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Manulife Financial Co. (NYSE:MFC – Free Report) (TSE:MFC).
Receive News & Ratings for Manulife Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Manulife Financial and related companies with MarketBeat.com's FREE daily email newsletter.
